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Blackfish Investments Acquires Multifamily Property In Orlando For $68.5M

Property Image
SOLD
$68,500,000

Florida

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MultiFamily6,821,579 SF
Sold 06/04/2021
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Property Image
SOLD

Blackfish Investments Acquires Multifamily Property In Orlando For $68.5M

10000 Palma Linda Way, Orlando, FL, USA

See Similar Deals
MultiFamily6,821,579 SF
Sold 06/04/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$10
Total Square Footage:6,821,579 SF
Transaction Type:Sale

Blackfish Investments, represented by Dave Freeman, purchased a multifamily property located at 10000 Palma Linda Way in Orlando. The property, sold by Epoch Residential, was brokered by Brett Moss, Matthew Wilcox, and Tyler Swidler of Berkadia. The sale price for the property was $68,500,000, with a total of 250 units available. The price per unit was $274,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $68,500,000
  • Address: 10000 Palma Linda Way, Orlando
  • Buyer: Blackfish Investments - Dave Freeman
  • Seller: Epoch Residential
  • Brokers: Brett Moss, Matthew Wilcox, and Tyler Swidler - Berkadia
  • Units: 250
  • Price per Unit: $274,000

Dave Freeman from Blackfish Investments spearheaded the acquisition of the property, partnering with Berkadia brokers Brett Moss, Matthew Wilcox, and Tyler Swidler. This successful transaction highlights the active real estate market in Orlando and the attractive investment opportunities available in the multifamily sector. Blackfish Investments' acquisition of the Palma Linda Way property marks a significant addition to their portfolio.

Players

Matt Wilcox
6 deals$439.3M volume
BROKER

Brett Moss
Berkadia
11 deals$912.8M volume
BROKER

Tyler Swidler
Berkadia
10 deals$812.2M volume
BROKER

BUYER

Details

SOLD
IMAGE: Dave Freeman, Matthew Wilcox & Brett Moss DATE: 06/04/2021 ADDRESS: 10000 Palma Linda Way MARKET: Orlando ASSET TYPE: Multifamily BUYER: Blackfish Investments - Dave Freeman SELLER: Epoch Residential BROKERS: Brett Moss, Matthew Wilcox & Tyler Swidler - Berkadia SALE PRICE: $68,500,000 UNITS: 250 ~ PPU: $274,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,653,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$243,366.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$324,724.95
Annual Debt Service$3,896,699.36